FactMR today released its latest report on the Suppositories Market, projecting steady growth driven by increasing demand for alternative drug delivery systems, a growing geriatric population, and advancements in pharmaceutical formulations. Valued at USD 1.61 billion in 2023, the global market is forecasted to expand at a compound annual growth rate (CAGR) of 5.7%, reaching USD 2.8 billion by 2033. This growth highlights the rising adoption of suppositories as an effective solution for patients unable to take oral medications.
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Market Outlook and Growth Projections
The global suppositories market is set for consistent expansion from 2023 to 2033, fueled by the increasing prevalence of chronic diseases, rising awareness of suppository benefits, and the need for targeted drug delivery. The market is expected to grow from USD 1.61 billion in 2023 to USD 2.8 billion by 2033, registering a CAGR of 5.7%. This growth is supported by the rising geriatric population, projected to reach 2.1 billion by 2050 (WHO), and the growing incidence of conditions like constipation and hemorrhoids. The market offers an incremental dollar opportunity of USD 1.19 billion over the forecast period, presenting significant prospects for pharmaceutical companies and healthcare providers.
For more information, visit https://www.factmr.com/report/suppositories-market
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